Monthly rent of Hiyaa flats will be MVR 7,500: Housing Minister
Housing Minister Mohamed Aslam has stated that the recipients of the social housing flats under the ‘Hiyaa’ project have the option to pay the down payment for their units over several years.
Speaking at a press conference held at the President’s Office on Wednesday, Aslam said those who have difficulty in paying the down payment can still move into their apartments when the apartments are ready for occupancy. However, the amount paid as rent by them would be more, said Aslam. In this regard, those who wish to spread their down payment over 25 years will need to pay a monthly payment of MVR 7500 as rent, said Aslam.
“If the down payment is paid, the monthly rent will be lower than MVR 7500. The monthly rent depends on how much is paid as down payment,” said Aslam.
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Source URL: Avas News